Multiple Choice Questions
1. The trend from distinct national economic units and toward one huge global market is commonly referred to as:
2. The merging of historically distinct and separate national markets into one huge global marketplace is referred to as the:
D. globalization of markets.
3. Globalization results in a greater degree of _____ across markets than would be present otherwise.
4. The globalization of _____ refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production.
5. A software company that uses Indian engineers to perform maintenance functions on software designed in the United States is benefiting from:
6. Why do many U.S. companies use Indian software engineers to perform maintenance functions? A. It compresses the time and lowers the costs required to develop new software programs.
7. Why was the World Bank created?
B. To promote economic development.
8. What is the purpose of the IMF?
A. To maintain order in the international monetary system.
9. Collectively, we refer to political, economic, and legal systems as constituting the _____ economy of a country. A. domestic
10. Political systems can be assessed according to:
D. the degree to which they emphasize collectivism opposed to individualism and the degree to which they are democratic.
11. When _____ is practiced, the needs of society as a whole are generally viewed as being more important than individual freedoms.
12. The group that believed socialism could be achieved only through violent revolution and totalitarian dictatorship was referred to as:
13. Followers who commit themselves to achieving socialism through democratic reforms are:
B. social democrats.
14. In the 1970s, which of...
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